Honda chief says auto sales to fall in Britain

Honda chief says auto sales to fall in Britain

UK is expected to see a fall in auto sales if we are to consider the views of the Honda chief. Ken Kier, managing director of Honda UK said that the markets could see the sales fall down by as much as 14%. He also spoke about how the Japanese car giant will address a looming deficit in the company’s UK pension schemes. Honda has a board meeting scheduled for next month to sort out these matters.

The Society of Motor Manufacturers and Traders itself has reported that the market is expected to see sales of 2.45 million cars in the current year. Honda chief on the other hand says that the figures would be somewhat lower at around 2.2 million compared to 2.57 million cars the various companies sold last year.

Ken Kier said in a statement to the media: “The market this year will be 2.2 million, 2.3 million. That is going to be around about the seventh largest market ever recorded in the UK. It does not sound too bad to me. It is down, it has come off. But there is a lot of business out there when you are only selling 100,000.”

Market analysts say that the falldown of sales in the auto market is mostly due to lowering consumer confidence. Interest rates in the market is continuing to rise and market surveys have found out that new car prices have fallen by 10% over the past seven years, while inflation has risen 17.5% over the same period.